Ottawa, Ontario--(Newsfile Corp. - April 11, 2024) - The latest research by the Canadian Institute of Actuaries (CIA) is now available, providing a careful analysis of historical mortality data and projecting future trends in Canada.
Developed in collaboration with Ad Res Advanced Reinsurance Services GmbH and Koblenz University of Applied Sciences, Mortality Improvements Research is authored by Kai Kaufhold, Dr. Martina Brück and Dr. Claus Neidhardt.
"This research represents a critical advancement in our understanding of mortality improvement trends in Canada," says Kaufhold. "We are confident that the insights provided in this report will have a profound impact on actuarial practice, guiding decision-making and ensuring the financial security of Canadians."
The report includes a framework for setting mortality improvement assumptions, essential for work across multiple areas of practice, including pensions and insurance. The report offers:
- Best-estimate projection scale for the Canadian general population: This projection scale serves as a vital tool for actuaries, providing a foundation for informed decision-making.
- Innovative methodology: By combining the renowned "CMI method" with statistical analysis, this report proposes an innovative approach for setting long-term mortality assumptions, ensuring accuracy and reliability in projecting future mortality trends.
- Framework for model selection in the development of best-estimate projections: This framework allows for objective evaluation and measurement of the impact of each decision, enhancing the credibility of the results.
- Impact on actuarial practice and organizations in Canada: The findings will inform the consideration of an updated mortality projection scale across all actuarial practice areas, ensuring consistency and reliability.
The report is available in English and French on the CIA's website.
Media contact
Josée Gonthier
Manager, Language Services and Public Affairs
Canadian Institute of Actuaries
media@cia-ica.ca
613-236-8196 ext. 106
The Canadian Institute of Actuaries (CIA) is the qualifying and governing body of the actuarial profession in Canada. We develop and uphold rigorous standards, share our risk management expertise and advance actuarial science to improve lives in Canada and around the world. Our more than 6,000 members apply their knowledge of math, statistics, data analytics and business in providing services and advice of the highest quality to help Canadian people and organizations face the future with confidence. Subscribe to our mailing list to stay up to date on CIA news and announcements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205085
SOURCE: Canadian Institute of Actuaries / FR: Institut canadien des actuaires
